Fondul Proprietatea to be listed on London Stock Exchange

Administrator of the Fondul Proprietatea (FP) sovereign fund, US company Franklin Templeton, suggests the secondary listing of FP on the specialist market for closed-emd investment funds of the London Stock Exchange after they examined several options, the Warsaw Stock Exchange and the New York Stock Exchange among them, FP manager Greg Konieczny said Friday.

The listing on the London Stock Exchange will be a technical one and no new shares will be issued. The reference listing price will be the one of the Bucharest Stock Exchange, said Konieczny.

The main aim of the listing in London is an increase in the base of investors that might be interested in the fund. FP will be more visible internationally and its coverage will increase in the analysis reports.

422 investment funds are listed on the London Stock Exchange and FP will be listed on the market devoted to closed-end funds, where it will be the largest fund.

Of the 422 funds, FP will be fourth by capitalisation and first by the value of the net assets.

The first 20 funds listed on the London Stock Exchange have a total value of 18 billion dollars owned by foreign investors.

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